The past three transfer windows — January 2023 and the summers of 2022 and 2023 — have each set new Premier League spending records, with £100m (Sh20.7bn) players being traded and Chelsea dominating the headlines.
But with one week to go until transfer deadline day on February 1, just 11 players have been signed by Premier League clubs, with seven permanent transfers and four loan deals, while disclosed fees amount to £45.4m (Sh9.4bn).
At the same stage of the winter transfer window in 2023, there had been 26 signings by Premier League clubs. 21 were permanent.
Of the fees that were disclosed, top-flight clubs spent at least £352.2m (Sh79.2bn), before add-ons, by this stage last year, with seven days to go.
Top-flight clubs would go on to spend a record-breaking £815m (Sh168.8bn) in last season’s January window. That included Chelsea’s £107m (Sh22bn) deal for Argentina midfielder Enzo Fernandez, from Benfica.
More than £275m (Sh56.9bn) was spent on deadline day alone, while, according to financial services firm Deloitte, the total spending of Premier League clubs last January was 90 per cent more than the previous winter record of £430m (Sh89bn), set in 2018.
That January window followed two record-breaking summer windows, with £2.3bn (Sh475.9bn) spent in 2023 surpassing the £1.9bn (Sh393bn) spent in July and August 2022.
Are Premier League financial charges a factor?
Charges hanging over Nottingham Forest and Everton at present — for alleged breaches of the Premier League’s profit and sustainability rules (PSR) in their 2022-23 finances — may have sharpened minds.
No club will want to risk a 10-point deduction like Everton are appealing against for a previous breach in their accounts up to 2021-22.
BBC Sport’s Alex Howell reports that Chelsea, with a £1bn (Sh206.9bn) outlay since the Clearlake ownership group took over the club in May 2022, are more likely to sell in this window than buy to balance the books.
While Newcastle, despite being one of the richest clubs in the world through their Saudi Public Investment Fund backers, posted a £73m (Sh15bn) loss for the 2022-23 season and players such as Kieran Trippier, Callum Wilson and Miguel Almiron are linked with moves away from Tyneside this month.
